Stock-Based Compensation Plans (Tables)
|
12 Months Ended |
May 31, 2022 |
|---|
| Stock Options [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Weighted-Average Assumptions |
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Year ended May 31, |
|
2022 |
|
2021 |
|
2020 |
Risk-free interest rate |
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|
1.2 |
|
% |
|
|
|
0.5 |
|
% |
|
|
|
2.0 |
|
% |
Dividend yield |
|
|
2.9 |
|
% |
|
|
|
3.2 |
|
% |
|
|
|
3.3 |
|
% |
Volatility factor |
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|
0.23 |
|
|
|
|
|
0.29 |
|
|
|
|
|
0.18 |
|
|
Expected option life in years |
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|
6.6 |
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6.1 |
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6.2 |
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|
Weighted-average grant-date
fair value of stock options granted (per share) |
$ |
|
17.47 |
|
|
|
$ |
|
13.52 |
|
|
|
$ |
|
9.86 |
|
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| Stock Option Activity |
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Weighted- |
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Weighted- |
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|
average |
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Shares |
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|
average |
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|
remaining |
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|
Aggregate |
|
|
|
subject |
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|
exercise price |
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|
contractual |
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|
intrinsic |
|
In millions, except per share amounts |
|
to options |
|
|
per share |
|
|
term (years) |
|
|
value(1) |
|
Outstanding as of May 31, 2021 |
|
|
3.6 |
|
|
$ |
|
62.89 |
|
|
|
|
|
|
|
|
Granted |
|
|
0.4 |
|
|
$ |
|
109.71 |
|
|
|
|
|
|
|
|
Exercised |
|
|
(0.7 |
) |
|
$ |
|
52.50 |
|
|
|
|
|
|
|
|
Forfeited |
|
|
— |
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|
$ |
|
88.13 |
|
|
|
|
|
|
|
|
Expired |
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|
— |
|
|
$ |
|
35.37 |
|
|
|
|
|
|
|
|
Outstanding as of May 31, 2022 |
|
|
3.3 |
|
|
$ |
|
70.68 |
|
|
|
6.0 |
|
|
$ |
|
174.9 |
|
Exercisable as of May 31, 2022 |
|
|
2.3 |
|
|
$ |
|
62.11 |
|
|
|
5.0 |
|
|
$ |
|
144.0 |
|
(1)
Total shares valued at the market price of the underlying stock as of May 31, 2022 less the exercise price.
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| Other Information Pertaining to Stock Option |
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Year ended May 31, |
|
In millions |
|
2022 |
|
2021 |
|
2020 |
|
Total intrinsic value of stock options exercised |
|
$ |
|
44.3 |
|
$ |
|
58.5 |
|
$ |
|
22.0 |
|
Total grant-date fair value of stock options vested |
|
$ |
|
6.4 |
|
$ |
|
6.0 |
|
$ |
|
5.0 |
|
|
| Time Based And Performance Based Restricted Stock Units [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| RSU Activity |
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Weighted- |
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|
Weighted- |
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|
average |
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|
average |
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Time- |
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|
grant-date |
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Performance- |
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|
grant-date |
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Based |
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|
fair value |
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|
based |
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|
fair value |
|
In millions, except per share amounts |
|
RSUs |
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|
per share |
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|
RSUs |
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|
per share |
|
Nonvested as of May 31, 2021 |
|
|
1.5 |
|
|
$ |
|
65.64 |
|
|
|
0.1 |
|
|
$ |
|
80.59 |
|
Granted (1) |
|
|
0.5 |
|
|
$ |
|
109.81 |
|
|
|
— |
|
|
$ |
|
103.59 |
|
Vested |
|
|
(0.5 |
) |
|
$ |
|
63.08 |
|
|
|
— |
|
|
$ |
|
— |
|
Forfeited |
|
|
(0.2 |
) |
|
$ |
|
77.90 |
|
|
|
— |
|
|
$ |
|
80.59 |
|
Nonvested as of May 31, 2022 |
|
|
1.3 |
|
|
$ |
|
80.60 |
|
|
|
0.1 |
|
|
$ |
|
92.33 |
|
(1)For performance-based RSUs, granted number assumes achievement of performance goals at target. Actual number of shares to be earned may differ from this amount.
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| Other Information Pertaining to RSUs |
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Year ended May 31, |
|
In millions, except per share amounts |
|
2022 |
|
|
2021 |
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|
2020 |
|
Time-based RSUs: |
|
|
|
|
|
|
|
|
|
|
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|
Weighted-average grant-date fair value per share of RSUs granted |
|
$ |
|
109.81 |
|
|
$ |
|
67.92 |
|
|
$ |
|
73.28 |
|
Weighted-average remaining vesting period (years) |
|
|
|
2.8 |
|
|
|
|
3.0 |
|
|
|
|
2.9 |
|
Total intrinsic value of RSUs vested |
|
$ |
|
54.7 |
|
|
$ |
|
32.6 |
|
|
$ |
|
40.0 |
|
Aggregate intrinsic value of nonvested RSUs (1) |
|
$ |
|
165.2 |
|
|
$ |
|
152.7 |
|
|
$ |
|
99.9 |
|
Total grant-date fair value of RSUs vested |
|
$ |
|
30.0 |
|
|
$ |
|
25.6 |
|
|
$ |
|
23.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance-based RSUs(2): |
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|
|
|
|
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|
Weighted-average grant-date fair value per share of RSUs granted |
|
$ |
|
103.59 |
|
|
$ |
|
— |
|
|
$ |
|
80.59 |
|
Weighted-average remaining vesting period (years) |
|
|
|
1.0 |
|
|
|
|
1.1 |
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|
2.1 |
|
Total intrinsic value of RSUs vested |
|
$ |
|
— |
|
|
$ |
|
— |
|
|
$ |
|
— |
|
Aggregate intrinsic value of nonvested RSUs (1) |
|
$ |
|
14.7 |
|
|
$ |
|
6.2 |
|
|
$ |
|
4.4 |
|
Total grant-date fair value of RSUs vested |
|
$ |
|
— |
|
|
$ |
|
— |
|
|
$ |
|
— |
|
(1)
Based on the market price of the underlying common stock as of May 31, 2022, 2021 and 2020.
(2)No performance-based RSUs were granted during fiscal 2021.
|
| Time-Based And Performance-Based Restricted Stock Awards [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Restricted Stock Awards Activity |
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|
Weighted- |
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|
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|
Weighted- |
|
|
|
|
|
|
average |
|
|
|
|
|
average |
|
|
|
|
|
|
grant-date |
|
|
Performance- |
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|
grant-date |
|
|
|
Time-based |
|
|
fair value |
|
|
based |
|
|
fair value |
|
In millions, except per share amounts |
|
shares |
|
|
per share |
|
|
shares |
|
|
per share |
|
Nonvested as of May 31, 2021 |
|
|
0.1 |
|
|
$ |
|
74.60 |
|
|
|
0.1 |
|
|
$ |
|
69.28 |
|
Granted (1) |
|
|
0.1 |
|
|
$ |
|
114.21 |
|
|
|
0.1 |
|
|
$ |
|
103.97 |
|
Vested |
|
|
(0.1 |
) |
|
$ |
|
74.20 |
|
|
|
(0.1 |
) |
|
$ |
|
65.17 |
|
Forfeited |
|
|
— |
|
|
$ |
|
98.11 |
|
|
|
— |
|
|
$ |
|
107.40 |
|
Nonvested as of May 31, 2022 |
|
|
0.1 |
|
|
$ |
|
93.15 |
|
|
|
0.1 |
|
|
$ |
|
92.45 |
|
(1)For performance-based shares, granted number assumes achievement of performance goals at target. Actual number of shares to be earned may differ from this amount.
|
| Other Information Pertaining to Restricted Stock Awards |
|
|
|
|
|
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|
Year ended May 31, |
|
In millions, except per share amounts |
|
2022 |
|
|
2021 |
|
|
2020 |
|
Weighted-average grant-date fair value per share of time-based shares granted |
|
$ |
|
114.21 |
|
|
$ |
|
73.93 |
|
|
$ |
|
84.46 |
|
Total grant-date fair value of time-based restricted stock vested |
|
$ |
|
3.8 |
|
|
$ |
|
3.0 |
|
|
$ |
|
3.2 |
|
Weighted-average grant-date fair value per share of performance-based shares
granted |
|
$ |
|
103.97 |
|
|
$ |
|
65.17 |
|
|
$ |
|
80.59 |
|
Total grant-date fair value of performance-based restricted stock vested |
|
$ |
|
7.2 |
|
|
$ |
|
8.4 |
|
|
$ |
|
5.8 |
|
|
| LTIP Performance-Based Stock Options [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Stock Option Activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
average |
|
|
|
|
|
|
|
Shares |
|
|
average |
|
|
remaining |
|
|
Aggregate |
|
|
|
subject |
|
|
exercise price |
|
|
contractual |
|
|
intrinsic |
|
In millions, except per share amounts |
|
to options |
|
|
per share |
|
|
term (years) |
|
|
value(1) |
|
Outstanding as of May 31, 2021 |
|
|
0.7 |
|
|
$ |
|
60.71 |
|
|
|
|
|
|
|
|
Exercised |
|
|
(0.3 |
) |
|
$ |
|
61.06 |
|
|
|
|
|
|
|
|
Outstanding as of May 31, 2022 |
|
|
0.4 |
|
|
$ |
|
60.52 |
|
|
|
4.0 |
|
|
$ |
|
28.3 |
|
Exercisable as of May 31, 2022 |
|
|
0.4 |
|
|
$ |
|
60.52 |
|
|
|
4.0 |
|
|
$ |
|
28.3 |
|
(1)
Shares valued at the market price of the underlying stock as of May 31, 2022 less the exercise price.
|
| Other Information Pertaining to Stock Option |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended May 31, |
|
In millions |
|
2022 |
|
2021 |
|
2020 |
|
Total intrinsic value of stock options exercised |
|
$ |
|
16.0 |
|
$ |
|
26.3 |
|
$ |
|
23.0 |
|
Total grant-date fair value of stock options vested |
|
$ |
|
— |
|
$ |
|
8.0 |
|
$ |
|
— |
|
|